🏁🚦Here We Go.📈 #KingsOfLeaon is dropping three types of tokens as part of a series called “NFT Yourself". One type is a special album package, while a second type offers live show perks like front-row seats for life, and a third type is just for exclusive audiovisual art. All three types of tokens offer art designed by the band’s longtime creative partner Night After Night; the smart contracts and intelligence within the tokens were developed by #YellowHeart, a company that wants to use blockchain technology to bring value back to music and better direct-to-fan relationships. #NFTs are a type of cryptocurrency, but instead of holding money, they can hold assets like art, tickets, and music. NFTs operate on a blockchain, which is a publicly accessible and transparent network — meaning anyone can see the details of any NFT transaction. Computers involved in the transactions become part of the network, which keeps updating and can’t be hacked due its nature as many-headed hydra. In the case of NFTs, their value becomes subjective and therefore fluctuates, kind of like stocks. YellowHeart is minting 18 unique-looking “golden tickets” as part of the Kings of Leon NFT release. Out of the 18, the band will auction six and vault the other 12 like a painter would do with a rare piece from a series of art. Each “golden ticket” also unlocks an actual concert ticket — marking the first time a music ticket has been officially sold as an NFT. Whoever owns the token is guaranteed four front-row seats to any Kings of Leon concert during each tour for life. The token owner also gets a VIP experience. YellowHeart wants to show people how much control can be put into the ticket with smart contracts. Going forward, this same tech can be used for general tickets, which could be a huge advancement in the secondary market. Every time an NFT is resold, a percentage of money earned could go to the artist — or whoever is included in the contract. Over time, all of these NFTs are expected to increase in value. Thanks to those aforementioned smart contracts, proceeds generated from future reselling. #MYUBERLIFE #bitcoin #technology #BeAWolfAboutYourDream https://www.instagram.com/p/CMHqFctlzjo/?igshid=1w6e9cn4w7ala
